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Credit cards actually don't need electricity or the network to be up. That was kind of the original point. The business that you're paying trusts the card issue
by OkayPhysicist 3y ago
Credit cards actually don't need electricity or the network to be up. That was kind of the original point. The business that you're paying trusts the card issuer to pay them on your behalf, so they can communicate the payment details to the bank asynchronously, and after supplying the paid for goods or services.
But the rest of your point stands. Cash grants a lot more flexibility.
- sneak 3y agoThat hasn't been true for years. CC processing today 100% requires power and network.
- BiteCode_dev 3y agoI don't know of any business in my country that has the manual machine anymore. But even if it did, how would visa process the recipe without power ? Their money is all bits. Cash is cash, even when there is no accounting.